Loan Programs
Fix & Flip
Construction
Rental
Multifamily
PROPERTY TYPES
Residential (1-4 Units)
Residential (1-4 Units)
Single-Family / 2-4 / Townhomes / PID / Warrantable Condos
Residential (5+ Units)
LOAN AMOUNT
$50,000 - $2,500,000
$50,000 - $2,000,000
$75,000 - $2,000,000
$500,000 +
MAXIMUM LOAN TO COST
80% of Purchase and 100% of Rehab Costs
80%
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* Purchase Loans: 80% of Purchase/As-is Value + 100% of Rehab Costs
* Refinance Loans: 75% of As-is Value + 100% of Rehab Costs
MAXIMUM LOAN TO ARV
75%
70%
-
75%
TERM LENGHT
Up to 18 Months
Up to 24 Months
Up to 18 Months
Up to 24 Months + Two 6-moths Extensions
RECOURSE
Full Recourse
Full Recourse
Full Recourse
Full Recourse
LOAN TYPES
-
-
30-Year Fixed Rate Mortgage (Fully Amortizing) 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Interest Only / Fixed / Adjustable Rate Mortgage Options
MAXIMUM LOAN TO AS-IS VALUE (SUBJECT TO MINIMUM FICO)
-
-
* Purchase / Rate-Term Refinance: 80%
* Cashout Refinance: 75%
-
MINIMUM DEBT SERVICE COVERAGE RATION (GROSS RENT / PITIA)
-
-
1.20x
-
LEASE REQUIREMENTS
-
-
* Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
* Unleashed Units: 90% of Market Rent (Purchase Loans Only)
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MINIMUM GUARANTOR FICO
-
-
Mid-Score of 640
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